The Courier News from Blytheville, Arkansas on April 17, 1956 · Page 14
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The Courier News from Blytheville, Arkansas · Page 14

Blytheville, Arkansas
Issue Date:
Tuesday, April 17, 1956
Page 14
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PAGE FOURTEEN BLYTHEVTLLE (ARK.) COURIER NEWS TUESDAY, APRIL 11, 19W After 80 Costly Years, Alabama To Retire Last of 'Carpetbag Bonds' MONTGOMERY, Ala. (AP) — After 80 long and costly years, the state of Alabama makes the final payment this year on the old "Carpetbag" Bonds issued in 1876 to satisfy postwar debts. The bonds could have been paid off years ago, but they were non-callable securities maturing in July 1956. Non-callable bonds cannot be retired until the date of maturity, so the interest goes on and on. gome of the debt goes back more I Gov. William D. Jelks refunde than a century to the failure of state banks, but most of the obligation* piled up between 1868 and 1876, in the reconstruction days following the \var between the states. The original "Carpetbag" Bond Issue — so named because of the northern carpetbaggers who settled in Alabama after the war — totaled $8,403,600. Interest payments alone have cost perhaps four times that much. State budget officer James V. Jordan, who has traced the history of the bonds, said the state has paid $16,510,180 in interest since 1906 when the original .securities matured and were refunded. For 30 Years The bonds originally were issued for 30 years and the debt was reduced to $8,103,000 when the late ihem. How much the interest cost In th 30 years before 1906 hasn't bee computed, but Jordan said it migh equal the total paid since then be cause the original indebtedness wa greater and the interest paymenl naturally higher. Through the years, first one go' ernor and then another set aside total of $1,857,000 in a sinking fun to retire the bonds when they fe due. Then in 1947, the Legislature 1 submitting a constitutional amenc ment to use the Income tax surplu for schools set aside enough to pa off the bonds, and Interest, whe they matured this year. Becaus they were non-callable, they coulc POLLED HEREFORD OPPORTUNITY LAND* FIFTH ANNUAL SPRING CALF SALE 10 BULLS -* 30 FEMALES Top Quality — Top Breeding From the Top Polled Hereford Herds of Arkansas Friday, April 20,1956 -1 p.m. Fairgrounds/ Paragould, Ark. Everett Rogers, Secretary Lunch Available At Sales Arena -PLANTING SEED- DELFOS9169 (Pedigreed) . .Ton $180 DELFOS (1 Yr. from breeder) Ton $100 DP&L-15 (1 yr. from breeder). ...... .Ton $100 RED TOP GIN CO., Inc. N. Highway 61 Phone 3-3756 n't be taken up at that time. Another S6.7 Million With the $1,857.000 already set aside, the legislature put another $6,700,000 for a total sinking fund of $8,357,000. That provided money to pay the principal on the bonds plus the interest for the remaining nine years. Tile "Carpetbag" Bonds were issued after a debt commission created by the Legislature in 1874 compromised the state's debt at $8,403,600, although actually It amounted to more than 30 million. Most of it accumulated during the reconstruction era, since the state owed only $6,800,000 when the carpetbaggers took control in 1868. While the bonds were still outstanding, former Gov. Thomas E. Kliby authorized another Issue of $454,000 in 1920 on a 30-year basis. They were paid out in 1950. Nehru Deplores 'Neutral'Tog NEW DELHI, India (IP) — Prime Minister Nehru says it is wrong to describe India aa a "neutral". To do so, he says, is to denote "a state of mind which can only think in terms of war." The Prime Minister, in a foreign affairs speech to Parliament, sai< India could not be called "neutral 1 for refusing to take sides in the colt war. Instead, he indicated Indii should be described as non-align^ ed or, preferably, independent. 'Sometimes," he said, "people rather with some disdain refer to our neutralism. I do not think we are neutral. I hope we are not neutra about any vital matter." Monkeys Cut 'Monkeyshines' DALLAS iVPj — Two pet monkeys opened the door of their cage in a ocked liquor store, triggered a bur- nr alarm and entertained passersby. They upset a bottle of gin but id no harm, owner J. A. Pierce said. "They are both teetotaLers," he xplained. Serving You Best is our Foremost Concern BURIAL INSURANCE LOGAN Funeral Home OUT OF THIS WORLD—Flashbulbs popped almost as fast as the rocket sled traveled when screen actress Cathy Marlowe popped up recently at Holloman Air Development Center, N.M. The blonde bombshell was at the outer space experimental center for the premier of "On the Threshold of Space," in which she has a part. She stole the show, even from Lt. Col. John Paul Stapp, holder of the world's ground-speed record. Strapped in a rocket sled, she's shown above with Stapp, who traveled 632 m.p.h. in a similar sled. Newsmen, CD A Officials to See Secret Hydrogen Bomb Test WASHINGTON UPI — The first nongovernment, civilian observers to see one of the hitherto secret tests of a hydrogen bomb will do their looking from 50 miles awny. Safety, not security, dictates the distance. Fifteen newsmen and about 20 representatives of the Federal Civil Defense Administration will see one test'next month in the Operation Redwing spring series at the Marshall Islands proving grounds. They are scheduled to see oen of the large, but not the largest, of the H-bomb trials. The average 50 miles viewing point aboard a ship provides a buf- _ _ against the three immediate dangers of a large H-bomb explosion — blast, heat and radiation. It also allows for maneuvering if vinds chnnge unexpectedly and carry the drifting cloud of contamination in the direction of men. Ten years ago a few of the news correspondents who have been as- Igned to cover Operation Redwing vere present for Operation Cross- oads. The scene was the same — Jikini atoll. The weapons were dif- erent — two "little" nuclear \veap- yielding only 20,000 tons (20 :ilntons> of force in 1SMG compared t'ith the multimillion ton hydrogen /eapon of today. Long Distance Ticket CODY, Wyo. I/PI — Jim Woodhouse, Pitchfork, Wyo., rancher didn't want to risk running afoul ot ;he law. The Cody police department receJved a SJ bill and an overtime parking ticket from Woodhouse. They Were mailed from Cortim Italy where he was visiting. Street Gives Way Under Car ALBUQUERQUE (Jf)-l.C. Sprague, Odessa, Tex., hi* wife and their 8-year-old son Bonny stopped their car for a red light at a busy Intersection in downtown Albuquerque. "You've run into a chuck hole," Mrs. Sprague said. "Wasn't a ofcuck hole when I stopped," argued Sprague. "There's one now," Mrs. Sprague insisted, "and the car is sinking." M the three leaped-from the car. a section of the pavement slowly collapsed, dropping the car eight feet to the bottom. No one was injured. A city street department official said the collapse may have been due to a leaky sewer which slowly carried the dirt away from under the pavement. Read Courier News Classified Ads. Mlt Beats Broom FORT IBANCH8, Ont. (*)— tta', Emma Del Zotto, R, WM (VMplnf out her neighborhood iroctry Mora at closing time when i youth ent«-; red and demanded money. Thinking it was a neighborhood resident ptajr- ing a prank, she brandished h«P broom to shoo him out of th* itort. The youth brandished » «aw«<l-oK rifle, convinced her he wasn't kidding and made off with »16. ; FLORIDA'S GLAMOUROUS Enjoy HM flOKIDA vocation yw'vt w«M«4 tut tt •««.* ' mniiM MK-t rmatlfc MOTS Swimming in ihe turquoise woten «- ...» sporkling Gulf of Mexico . . . Golfing on tht •*• world-famed Bobby Jones course . . . Relaxing - amid palm trees and sweetly scented masses of . flaming tropic flowers . . . Dancing and romonc- Jng — that's ^your Millionaire's vacation ot the celebrity-filled new Sorosota Terrace Hotel! Ye* oil this fabulous luxury will cost you os LITTLE as $24,00! ! So don't wait another minute for reservations! See your local Travel Agent of write, wire or NEW SARASOTA TERRACE HOTEL BOX 1720 — SARASOTA, FLORIDA — TH. RINGLING — 2-IIH Whiskey makes a great gift ...ifits a great whiskey! The name SEAGRAM'S 7 GROWN says immediately your gift is the finest of its kind. And now, 7 CROWN comes in a luxurious new yift wrap; at no extra charge; ready to sign and give! Oulside, si beautiful gift wrap! Inside, Seagram's 7 Crown. Aincri- c;i'^ first choice in whiskey by more than 2-1! Beautifully gift wrapped at no extra charge! Simply sign it—and give it. It s ready to go, right from the store, in a luxurious gift wrap without advertising or trademarks of any kind. Sandefjord, N o r w a y, is the vorJd's chief whaling port. CHATTERBOX •Ml S. Jlsl. I'll. 3-9775 A better place to go Michelob-On-Draft All Beer 25c and JACK BUCK JOE GARAGIOLA Brought to you by ANHEUSER-BUSCH, INC. SI. 101IIS • NEWARK • IDS AKGIltS Budweiser KING OF BEERS ROBERTSON Distributing Co. Blyfneville, Ark. Give Seagram's and be Sure ... of American whiskey at its finest SEAGRAM-DISTILLER! COMPANY, NEW YORK CITY. BLENDED WHISKEY. 86.8 PROOF. 65% GRAIN NEUTRAL SPIRITS. Protect Your Fine Garments With Bestway STORAGE Safe - Convenient and Economical We Specialize In Formal and Evening Wear Guaranteed • Summer Storage Phone 2-2408 BESTWAY CLEANERS 2012 W. Main ecorafor print shirts The landscape comes alive with color when you wear our LADY MANHATTAN® shirts in polished cotton prints by Everfast. The fabric was created in the technique of interior decorator prints. And the MANHATTAN tradition of fine man-tailoring brings out the best in the fabric, the colors and you! We have UDY MANHATTAN Jamaica length shorts of polished cotton twill, specially coordinated to wear wifh these smart shirts. from J The April 23rd issue of TIME hosthisLADYMANHATTAN ad in full color. Everything tor Men and Boys j MARTIN'S Men's Store

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